What Is The Current and Historic Market Size Analysis Of The Gear Box And Gear Motor Market?
The gear box and gear motor market has seen considerable growth due to a variety of factors.
• The market size of gear boxes and gear motors has seen a robust expansion in the past few years. The market is set to expand from $17.22 billion in 2024 to $18.13 billion in 2025, growing at a compound annual growth rate (CAGR) of 5.3%.
Factors that have contributed to the growth during the historic period include a swift expansion in heavy machinery, early implementation in the aviation and aerospace sectors, trailblazing industrial applications, various world wars and defense machinery, as well as the advancement of automation and robotics.
What Is The Forecast For The Gear Box And Gear Motor Market Size?
The gear box and gear motor market is expected to maintain its strong growth trajectory in upcoming years.
• Steady growth is envisaged for the gear box and gear motor market in the approaching years, with an expected increase to $22.03 billion by 2029, at a compound annual growth rate (CAGR) of 5.0%.
This anticipated growth in the forecast period can be linked to factors such as the rising demand in the renewable energy sector, the expansion of automation and industrial robotics, focus on compact and lightweight solutions, an uptick in industry 4.0 implementation, and an increasing preference for energy-efficient solutions. Some of the major trends to watch out for during the forecast period include the emergence of maintenance-free solutions, customization and tailored solutions, efforts towards noise and vibration control, the adoption of gearless direct drive systems, and a growing emphasis on electric vehicles (EVs).
What Are The Essential Drivers Behind The Growth Of The Gear Box And Gear Motor Market?
The growth of the gearbox and gear motor market is anticipated to be fuelled by the expansion of the construction industry. This industry involves all aspects related to the development, design, planning, construction, renovation, and upkeep of physical buildings and infrastructure. Gearboxes and gear motors are integral in the operation of heavy machinery in the construction industry, such as excavators and bulldozers, where they control the speed and torque of hydraulic systems, allowing for accurate movement of tools and attachments. In a report from the Australian Bureau of Statistics in July 2023, it was noted that the number of dwellings under construction in Australia's March 2023 quarter rose by 1.3% to 240,813 units, exceeding the previous high of 240,065 units in the March 2022 quarter. This surge in residential building construction contributes to the expansion of the gearbox and gear motor market.
Gear Box And Gear Motor Market Driver: Advancement in Power Generation Boosts Gearbox And Gear Motor Market Growth
How Is The Global Gear Box And Gear Motor Market Divided Into Key Segments?
The gear box and gear motor market covered in this report is segmented –
1) Product Type: Gear Box, Gear Motors
2) By Gear Type: Spur Gear, Helical Gear, Bevel Gear, Worm Gear, Planetary Gear, Cycloidal Gear
3) By Distribution Channel: Direct Sales, Indirect Sales
4) By End-Use Industry: Wind Power, Material Handling, Food And Beverage, Cement And Aggregates, Metals And Mining, Pharmaceutical, Construction Power Generation, Chemicals, Marine, Other End-Use Industries
Subsegments:
1) By Gear Box: Parallel Shaft Gearbox, Right Angle Gearbox, Planetary Gearbox, Helical Gearbox
2) By Gear Motors: AC Gear Motors, DC Gear Motors, Stepper Gear Motors, Servo Gear Motors
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What Trends Are Reshaping The Future Of The Gear Box And Gear Motor Market?
Leading businesses in the gearbox and gear motor market are concentrating on designing bespoke industrial gearboxes to increase their market earnings. These customized gearboxes are unique gear transmission devices tailored to cater to the distinct needs of a specific application or industry. For instance, in January 2022, Dana Incorporated, a manufacturing firm based in the US, introduced the Brevini S-Series industrial planetary gearboxes. These gearboxes have been carefully crafted to handle the exacting demands of biogas production and wastewater treatment plants. The Brevini S-Series gearboxes, which can deliver maximum output torques of up to 290 kNm, power the mixing systems in digesters, ensuring consistent temperatures for the efficient production of fuel-grade biogas. Moreover, these gearboxes feature water and corrosion-proof seals, which are essential in driving drag chains and flights in the sedimentation tanks at wastewater treatment facilities.
Who Are the Key Players In The Gear Box And Gear Motor Market?
Major companies operating in the gear box and gear motor market report are:
• Mitsubishi Electric Corporation
• Hitachi Ltd.
• Siemens AG
• ABB Ltd.
• Toshiba Corporation
• Eaton Corporation PLC
• Emerson Electric Co.
• Danfoss A/S
• Dana Incorporated
• Sumitomo Heavy Industries
• Bosch Rexroth
• WEG Industries
• Regal Rexnord Corporation
• SEW-EURODRIVE GmbH & Co KG
• Johnson Electric Holdings Limited
• Nord Drivesystems
• TECO Electric & Machinery Co. Ltd.
• Lenze Gruppe
• ElectroCraft Inc.
• Elecon Engineering Company Ltd.
• TECO-Westinghouse Motors
• Bonfiglioli Transmissions Private Limited
• Bauer Gear Motor
• Varvel SpA
• Flender Group
• Rossi Group LLC
• Bison Gear and Engineering
• NER Group Co. Ltd.
• Sha Yang Ye Industrial
What Are The Regional Insights Into The Gear Box And Gear Motor Market?
Asia-Pacific was the largest region in the gear box and gear motors market in 2024. Middle East And Africa is expected to be the fastest-growing region in the forecast period. The regions covered in the gear box and gear motor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
